Aeon Credit, Blue Grass, Bridgestone, Panasonic, Yoshinoya: Equity Preview
The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut, unless stated otherwise.
Aeon Credit Service Co. (8570 JT): The credit-card company expects operating profit to rise 12 percent to 23 billion yen ($245 million) this fiscal year. Operating profit in the year ended Feb. 20 fell 23 percent to 20.6 billion yen on lower sales. The stock rose 0.3 percent to 1,152 yen.
Aeon Mall Co. (8905 JT): The shopping mall operator expects a 7.5 percent gain in operating profit to 40 billion yen this fiscal year. Operating profit in the year ended Feb. 20 fell 1.8 percent to 37.2 billion yen. That was 5.8 percent below the company’s estimate. The stock gained 4.9 percent to 2,070 yen.
Blue Grass Co. (7478 JQ) and Cox Co. (9876 JQ): Aeon Co. (8267 JT), which operates general merchandise stores in Japan, will merge its Blue Grass and Cox clothing retail units. Under the plan, Cox will pay 1.68 shares for each share in Blue Grass. Aeon made the announcement in a press release. Blue Grass slid 0.3 percent to 399 yen. Cox retreated 1.7 percent to 290 yen. Aeon slid 1.2 percent to 1,092 yen.
Bridgestone Corp. (5108 JT): The world’s largest tiremaker by sales said it will invest 105 million euros to expand its plant at Poznan, Poland. The increase will add production of 5,600 passenger car tires a day at the plant by 2014, and create 200 jobs, Bridgestone said in a release on its Web site. The stock slid 0.2 percent to 1,578 yen.
Daikokutenbussan Co. (2791 JT): The operator of discount stores for food products and sundry goods said nine-month net income rose 29 percent to 1.82 billion yen, with rising sales. The stock fell 0.1 percent to 2,828 yen.
Dainippon Screen Manufacturing Co. (7735 JT): The chip- equipment maker may post a 1 billion yen operating profit for the half-year ended March 31, the first profitable half-year result since 2008, Nikkei English News said. The company had previously expected an 800 million yen operating loss, according to the report. The stock slid 1.1 percent to 448 yen.
Dowa Holdings Co. (5714 JT): Japan’s fourth-largest copper smelter said it will increase its monthly output of refined copper by 30 percent during the fiscal first half compared with a year earlier. The stock declined 1.2 percent to 573 yen.
Elpida Memory Inc. (6665 JT): Japan’s biggest maker of computer-memory chips filed two patent-infringement lawsuits in the U.S. against Infineon Technologies AG (IFX GR) in an escalating battle over semiconductor technology. Elpida fell 0.6 percent to 1,964 yen.
Honeys Co. (2792 JT): The apparel maker said nine-month net income declined 43 percent to 611 million yen on falling sales. The stock lost 3.8 percent to 813 yen.
Izumiya Co. (8266 JT): The supermarket operator swung to a net loss of 7.01 billion yen in the year ended Feb. 28. The retailer expects to return to a 800 million yen profit this fiscal year. The stock advanced 1.9 percent to 478 yen.
Makino Milling Machine Co. (6135 JT): The machine-tools maker said in a preliminary earnings statement that full-year net loss totaled 10 billion yen, narrower than its 14.5 billion yen loss outlook, on better-than-expected sales. The stock slipped 0.9 percent to 644 yen.
Olympic Corp. (8289 JT): The supermarket operator’s full- year net income was 110 million yen, falling short of its forecast by 78 percent, according to a preliminary earnings statement. The stock was unchanged at 649 yen.
Panasonic Corp. (6752 JT): The company’s television unit may post a profit of several billion yen for the three months ended March as sales beat the target of 15.5 million sets, Nikkei English News said. The stock slumped 2.4 percent to 1,443 yen.
Saizeriya Co. (7581 JT): The Italian-food restaurant chain boosted its full-year net income outlook by 15 percent to 7.45 billion yen, citing higher customer traffic. The stock fell 0.2 percent to 1,699 yen.
Sankyo-Tateyama Holdings Inc. (3432 JT): The aluminum-mesh maker reported nine-month net income of 1.2 billion yen from a year earlier loss. The stock dropped 1.5 percent to 131 yen.
Shimano Inc. (7309 JO): The maker of bicycle equipment and fishing gear said it will spend as much as 4 billion yen to repurchase up to 1.1 percent of its outstanding shares through April 26. The stock fell 1 percent to 4,190 yen.
Union Tool Co. (6278 JT): The maker of drill bits reported first-quarter net income of 490 million yen from a 515 million yen loss a year earlier, with a 41 percent gain in sales. The stock advanced 2.3 percent to 2,805 yen.
Yoshinoya Holdings Co. (9861 JT): The restaurant chain that serves bowls of rice with stewed beef said in a preliminary earnings statement that its full-year net loss was 8.94 billion yen, wider than its 1.3 billion yen loss outlook. It cited charges from depreciating unprofitable stores and a goodwill charge related to its Don Co. (8216 JO) unit, which operates a steak restaurant chain. Yoshinoya fell 0.6 percent to 100,200 yen. Don rose 1.4 percent to 73 yen.
To contact the reporter on this story: Norie Kuboyama in Tokyo at email@example.com.